MUMBAI: PwC India and Google are set to launch an analytics and algorithm-based product in India, which may provide competition to the cyber security space product segment. The product will be able to detect, analyse and stop possible cyber attacks or any other forms of threats from cyber criminals, competitors or governments. PwC already plays a role in the cyber security space and helps its clients prevent, and in some cases, take corrective actions after cyber breaches.

Both Google and PwC are now targeting Indian companies, which they reckon, are in high-risk zones as far as cyber security is concerned. The new product is being mainly pitched for Indian technology companies, inclu ding those in the startup sphere.

"Security industry is right for disruption now because we are not seeing an industry which is really solving a problem. We can quickly deploy our product which can ingest massive amounts of information generated by security products and then we can do extraordinary analytics," said Da vid B Burg, Cyber Securi ty Leader, PwC Global.

The product in some wa ys will compete with secu rity product players such as Moscow-headquarte red Kaspersky and Sy mantec among others. Ho wever, PwC claims that they have an upper hand as they can not only provide a product but also solutions within milliseconds of it occurring anywhere in the world.

Many Indian banks and companies have seen a sudden spurt in cyber attacks in the past two years, which is related to economic growth, say industry trackers. In the past year alone, many oil and gas, banks, pharma and IT companies have been attacked by cyber criminals. In December, hackers seized control of computers at three banks and a pharma company and demanded ransom in bitcoins for decryption of keys to unfreeze them.